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Tell HN: Ever think of applying to YC? Do it this weekend for S24

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Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#421

Post by mandeepj »

bko wrote: post #399
sebastiennight wrote: post #398

Earlier quoted context omitted.

I don't compare myself with others much. Why should I care if there are earlier-stage startups in there? We always think that our current stage is pretty high up the mountain already (see a rough July 2022 ARR update[0] when I thought I was on top of the world) but if you zoom out, you see things with much better perspective (18 months later, the whole year of 2022 looks way less impressive[1]) If we're on the road t…

Thanks for answering. I misread your orig post. When you said you had 109k last month I thought that was monthly rev, which would make your arr 1.3mm. The standard offer 500k for 7% is pretty bad (5x rev multiple with x00% growth) Overall the money isn’t a lot. It sounds like you’re strapped for cash. If you optimize for that you’ll likely find much better terms. The point about cohort being so many idea stage is tha…

> The standard offer 500k for 7%

They will not give you all of that in one go. $125k initially and rest of $375k if you are valued at-least at $15M post money round.

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#422

Post by re-thc »

dzink wrote: post #29

The market is tanking again and interest rates may go up and or continue into next year. YC graduates are expected to present and raise their seed rounds around Demo Day in 3-4 months. Raising any kind of money sets an interest rate that you pay with your equity % to investors (at high interest rates they expect to own more equity as time goes by.) What are the current fundraising terms you guys see for YC startups b…

> What is the upside to fundraising in the next few months vs waiting for a better environment? If we have a startup and it’s profitable, does it make sense to apply it to wait?

You make it sound like you have a 100% success rate. A lot of applicants apply multiple times so getting in at a worse rate vs not getting at all, what's the pick?

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#423

Post by mdekkers »

paxys wrote: post #38
sturgill wrote: post #33

I’ve always been intrigued by YC, but the commitment to relocate is hard to justify. I have three kids (with the oldest finishing up her junior year next month). So I’m not in a place where being in SF for the summer works very well for the family. I remember during COVID that there was a remote option, but I don’t believe that’s available now. So for someone more established (erm, no longer 20) that lives in the mid…

For better or worse, the relocation requirement is probably a good proxy for "can commit to their startup 24x7 without any other responsibilities standing in the way".

That’s nonsense. Startups are only for the young and unencumbered? I’ve had several successful startups and managed to combine that with a family life as well as time off for R&R and mentally recharging.

If this is your belief, I strongly advise you to reconsider your life choices and priorities

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#424

Post by haneul »

mandeepj wrote: post #421
bko wrote: post #399

Earlier quoted context omitted.

Thanks for answering. I misread your orig post. When you said you had 109k last month I thought that was monthly rev, which would make your arr 1.3mm. The standard offer 500k for 7% is pretty bad (5x rev multiple with x00% growth) Overall the money isn’t a lot. It sounds like you’re strapped for cash. If you optimize for that you’ll likely find much better terms. The point about cohort being so many idea stage is tha…

> The standard offer 500k for 7% They will not give you all of that in one go. $125k initially and rest of $375k if you are valued at-least at $15M post money round.

Unless it changed very recently, which from my reading it didn’t, that’s not correct.

The $375k is an uncapped safe with mfn, but you do get the whole $500k upfront.

Source: https://www.ycombinator.com/deal

Also sourced from getting said $500k, thus the confusion on my end.

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#425

Post by mandeepj »

haneul wrote: post #424
mandeepj wrote: post #421

Earlier quoted context omitted.

> The standard offer 500k for 7% They will not give you all of that in one go. $125k initially and rest of $375k if you are valued at-least at $15M post money round.

Unless it changed very recently, which from my reading it didn’t, that’s not correct. The $375k is an uncapped safe with mfn, but you do get the whole $500k upfront. Source: https://www.ycombinator.com/deal Also sourced from getting said $500k, thus the confusion on my end.

> In a typical scenario where you raise your next safes at a $15M post-money valuation cap, the $375,000 MFN safe would convert into $375,000 / $15,000,000 = 2.5% of the company.

Maybe, I misunderstood then! I thought they were referring to next funding round to hand over rest of $375k. But in fact, it was just the calculation to explain the valuation of the company in ref to that balance.

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#426

Post by lelanthran »

dang wrote: post #369
lelanthran wrote: post #349

Earlier quoted context omitted.

Does it have to be US citizens, living in the US? How about a native South African, born in SA?

Anyone can apply - you needn't be a US citizen (I'm not, for example) and you are most welcome to be South African. Edit: I asked my informant and they said that YC has funded 6 South African founders since 2017, which I guess is how far that data goes back to. We agreed that it seems like there should be more!

Thanks!

I'll keep in mind, so won't make it for this intake.

Still on the fence on whether I need the rocket fuel or not, and my co-founder hasn't yet weighed in either (we're still in exploratory phase of some potential products, so not in 100% yet).

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#427

Post by kevlened »

999900000999 wrote: post #42
dang wrote: post #36

Earlier quoted context omitted.

> YC not even responding The only way that would happen is a bug. YC always responds to applicants. Rejections usually aren't personalized because that can't scale - but not hearing back at all should never happen. If you want me to look into what might have happened there, I'd be willing to try if you email hn@ycombinator.com.

Correction, I got a response, but no specific feedback. I double checked my emails. Anyway, I'm realistic in knowing my ideas aren't going to garner investment. I would love if you had a YC Junior for just getting help on ideas vs capital.

Reconsider writing ideas off so quickly! Just completing the application is a great way to test your thinking on each. The process could be enough for you to transform one of them into something that excites you.

In addition to the application, it's worth exploring https://www.startupschool.org/ if you're looking for a "YC Junior"

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#429

Post by dexderp »

I like the quote in your about @ Dang. Very helpful:

"Conflict is essential to human life, whether between different aspects of oneself, between oneself and the environment, between different individuals or between different groups. It follows that the aim of healthy living is not the direct elimination of conflict, which is possible only by forcible suppression of one or other of its antagonistic components, but the toleration of it—the capacity to bear the tensions of doubt and of unsatisfied need and the willingness to hold judgement in suspense until finer and finer solutions can be discovered which integrate more and more the claims of both sides. It is the psychologist's job to make possible the acceptance of such an idea so that the richness of the varieties of experience, whether within the unit of the single personality or in the wider unit of the group, can come to expression." Marion Milner, 'The Toleration of Conflict', Occupational Psychology, 17, 1, January 1943

Re: Tell HN: Ever think of applying to YC? Do it this weekend for S24

#430

Post by dang »

dexderp wrote: post #429

I like the quote in your about @ Dang. Very helpful: "Conflict is essential to human life, whether between different aspects of oneself, between oneself and the environment, between different individuals or between different groups. It follows that the aim of healthy living is not the direct elimination of conflict, which is possible only by forcible suppression of one or other of its antagonistic components, but the…

I'm glad! I finally got a copy of the paper and unfortunately that quote was the only interesting thing in it, as far as I could tell. But Milner is fascinating and did many other things - for example she wrote a brilliant book called "A life of one's own" about experiments she did with self-observation. She was already using the word 'mindfulness' in 1934.
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